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Vodafone India receives approval from FIPB to acquire You Broadband
Vodafone India has received the Foreign Investment Promotion Board’s (FIPB) approval for the acquisition of YOU Broadband India Limited.
Vodafone India had bought YOU Broadband for around Rs 4 billion. To this end, it had sought FIPB’s approval for acquiring 100 per cent shares of YOU Broadband by way of transfer from resident and non-resident shareholders.
Further, according to a notification by FIPB, You Broadband's facto proposal for the acquisition of 979,875 equity shares of Digital Outsourcing Private Limited by way of swap sharing has also been accepted.
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